Used-car market contraction slows | Automotive Information

Rate this post


Gross sales of used gentle autos in China dipped 6.1 p.c in June from a yr earlier after shrinking at a double-digit tempo the earlier three months, in accordance with the China Car Sellers Affiliation. 

The commerce group attributed the most recent outcomes to eased anti-pandemic measures, together with the lifting of family lockdown necessities in Shanghai firstly of final month. 

The commerce group stated 1.14 million used autos modified arms final month. 

Gross sales of used sedans, multi-purpose autos and minibuses dropped 9.7 p.c, 4.2 p.c and 0.7 p.c, to round 834,200, 32,700 and 89,600, respectively.

However the quantity of secondhand crossovers and SUVs rebounded 9.5 p.c to about 181,600. 

Within the first six months, roughly 6.09 million used gentle autos had been bought, a drop of 8.9 p.c from the identical interval final yr, in accordance with CADA’s tally.

To spur the used-vehicle market, the State Council, China’s cupboard, issued a coverage order on June 22, requesting that every one provincial governments eradicate restrictions on native residents’ buy of used autos from different provinces beginning on August 1. 

Due to the brand new rule, used-car gross sales in China are anticipated to renew rising in August, CADA predicted earlier this month.


Supply hyperlink